Bitcoin News Today: Crypto Fear Index Hits 29 as Panic Sets In, Yet ETFs Draw $149M in Resilient Inflows

The Crypto Fear & Greed Index, a key barometer of market sentiment, has dipped to 29 as of October 30, according to alternative data provider Lookonchain, signaling a return to "Fear" territory. This stark contrast to earlier readings—such as the index's neutral 50 score reported on October 28, according to a Lookonchain feed—highlights the volatile psychological landscape in the cryptocurrency market, according to a CryptoRank analysis.

Bitcoin (BTC), the largest cryptocurrency by market capitalization, has been trading near $114,000, consolidating after a rebound from a 9% dip below its October 7 record high of $126,198, according to Business Standard. Despite the marginal decline, Bitcoin's $2.14 trillion market cap underscores its dominance, though altcoins like Pi (PI) and Story (IP) have slumped by 12% and 8%, respectively, as broader sentiment remains fragile. Analysts attribute the cautious tone to anticipation of the U.S. Federal Open Market Committee (FOMC) meeting and geopolitical tensions, with resistance levels for Bitcoin now pegged at $116,900 and support near $111,400.

Meanwhile, institutional demand has shown resilience. Spot ETFs for Bitcoin and Ethereum (ETH) have seen a resurgence in inflows, with $149 million and $134 million entering BTC and ETH ETFs on October 28, respectively, according to FXStreet. This follows a $446 million weekly inflow into BTC ETFs, signaling renewed confidence in crypto as a strategic asset. Ethereum, trading near $4,100, has also gained traction, with its price rebound above $4,000 bolstering short-term bullish outlooks.

However, the market's stability is not without risks. WhiteBIT, a major crypto exchange, reported that social engineering scams accounted for 40.8% of security incidents in 2025, with fraudsters exploiting fake investment offers and impersonation tactics, according to a Yahoo Finance report. Technical wallet hacks and phishing attacks followed closely, emphasizing the need for proactive security measures like cold storage and multi-factor authentication.

The Crypto Fear & Greed Index's methodology, which weights volatility and trading volume at 25% each, remains a focal point for investors. Alternative.me's analysis underscores that a neutral score (50) often precedes market consolidation, while extreme readings—such as the current 29—typically reflect panic-driven selling, CryptoRank's analysis noted. Historically, such fear phases have occasionally preceded rebounds, though analysts caution against relying solely on sentiment metrics for price predictions.

As the market navigates this delicate balance, investors are advised to adopt disciplined strategies, such as dollar-cost averaging and portfolio diversification, while staying attuned to macroeconomic developments and regulatory updates. The coming weeks, particularly the FOMC meeting, could provide critical catalysts for a shift in sentiment.